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Oct 29, 2012
10/12
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government securities trading in tokyo and london as well. joining us on the phone to talk about that and more is sifma president and ceo, tim ryan. thanks for joining us here. >> thanks for being there. actually, both you, bill, and maria. >> your feeling is if they don't trade in new york, they shouldn't trade dollar-denominated currencies around the world. >> our recommendation was to close early today at noon. we chose to do it at noon principally because there were treasury auctions scheduled today. we wanted to get those finished. we recommended a close tomorrow. >> what about this cme report just moments ago that says overnight trading will happen at 7 p.m. tonight. how does that play into everything? i guess we want your take on the overall impact of a full market shutdown, like we're seeing, and what you're recommendation. >> well, remember, we recommend to our member firms, so they'll make the decision on cme on their own. typically when we make a recommendation because it's coordinated with the regulators globely, the firm spots th
government securities trading in tokyo and london as well. joining us on the phone to talk about that and more is sifma president and ceo, tim ryan. thanks for joining us here. >> thanks for being there. actually, both you, bill, and maria. >> your feeling is if they don't trade in new york, they shouldn't trade dollar-denominated currencies around the world. >> our recommendation was to close early today at noon. we chose to do it at noon principally because there were...
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Oct 30, 2012
10/12
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so government matters. this brings that home to people. >> what about the idea that people are just upset? you've got millions of people still without power. you've got, you know, all of this cleanup going on. isn't there some truth to the idea that people are just not happy right now and they go against the incumbent as a result of that, for no other reason just because mother name impacted their lives? >> the people are smarter than that. as long as they see the relief efforts are moving quickly and that the president or governors or mayors are doing everything they can, they're going to appreciate those efforts. people are not -- we always, in the media, and we politicians, always underestimate the intelligence of the american people. they will understand. they'll understand there's so many homes without power and so few trucks to restore that power. they can't start until the wind dies down. so people are going to be patient as long as theydistribu resources well. i think government will perform well. t
so government matters. this brings that home to people. >> what about the idea that people are just upset? you've got millions of people still without power. you've got, you know, all of this cleanup going on. isn't there some truth to the idea that people are just not happy right now and they go against the incumbent as a result of that, for no other reason just because mother name impacted their lives? >> the people are smarter than that. as long as they see the relief efforts are...
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they have good intel and work with government that is our adopted tiger woods story. liz: what about to save face that mayor bloomberg puts it on the organization and let them say they back off? >> i do not have this from the mayor's office perpetrators are saying it is done. when that gets around this usually right. maybe in five minutes than there will say come hell or high water but they're usually right saying it is done. at first i thought it is good but logistically i hear anecdote evidence but tempers are short i had to walk up eight flights and pitch darkness and i am in good shape. i have three kids no heat heat, no hot water. >> you cannot tell what your car. you cannot because there is no electricity. if it turned on tomorrow by a con-ed. >> i know how to siphon yes. i used to do it. liz: i had to move my car. [laughter] >> i think it is done. liz: you said it first. it was a big week here are the "movers and shakers." her. >> goldman sachs was the most prestigious place to work on wall street for the most admired company taking ford and sears public. it wa
they have good intel and work with government that is our adopted tiger woods story. liz: what about to save face that mayor bloomberg puts it on the organization and let them say they back off? >> i do not have this from the mayor's office perpetrators are saying it is done. when that gets around this usually right. maybe in five minutes than there will say come hell or high water but they're usually right saying it is done. at first i thought it is good but logistically i hear anecdote...
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Oct 29, 2012
10/12
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in concert with local and state governments. the federal government pays the bulk of the bill. and you have a large number of states. and my guess is, this is going to be extensive damage from a financial point of view, which federal government through fema, federal emergency management agency, et cetera, ultimately winds up paying for. state and locals pay a portion of it. but it's a small portion. i don't believe that's going to have a significant impact long term. the expenses diffused. it's not good for state and local governments because we're already under a lot of pressure but i think that's going to be manageable. and i don't think it's going to have a major impact. i just -- your question earlier on when do the markets get up and running and is there a delay, i think if there's an economic impact, that would be it. that's why the white house is concerned. i'm going to be reaching out to secretary geithner to make sure we're coordinated to everything we can to get wall street everything it needs to be operational as soon as possible. >> and your power just went out. we'
in concert with local and state governments. the federal government pays the bulk of the bill. and you have a large number of states. and my guess is, this is going to be extensive damage from a financial point of view, which federal government through fema, federal emergency management agency, et cetera, ultimately winds up paying for. state and locals pay a portion of it. but it's a small portion. i don't believe that's going to have a significant impact long term. the expenses diffused. it's...
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do i only want governments? no, i like high yield and global bonds. bonds have been the bright spot -- in the past three years the best risk adjust return of any out there. liz: we kept look agent the yield of ten year treasury -- we kept looking at the yield of ten year treasury. there you have it. 1.72%. >> think about bonds, when we're coming to the end of the year, coming to the fiscal cliff, there's a lot of things going on, so i want to be in the equity markets, but as long as i have bonds, i have balance to protect the overall portfolio. liz: doug, it is good to see you. thank you very much for joining us. doug cote, ing u.s. chief market strategist. thank you very much. >> thank you. liz: closing bell ringing in justless than 7 minutes. i'm going to be tweeting whether i find gas many new jersey -- gas in new jersey. so follow me. we are on a mission in my house. if you find some, tweet me. was hurricane sandy enough to make one company fold on atlantic city? we have that story coming up. you immediate to hear this. -- you need to hear this. b
do i only want governments? no, i like high yield and global bonds. bonds have been the bright spot -- in the past three years the best risk adjust return of any out there. liz: we kept look agent the yield of ten year treasury -- we kept looking at the yield of ten year treasury. there you have it. 1.72%. >> think about bonds, when we're coming to the end of the year, coming to the fiscal cliff, there's a lot of things going on, so i want to be in the equity markets, but as long as i...
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Nov 1, 2012
11/12
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>> i don't know what the government expects. i can only tell you that i think they have a desire to sell. i think that the markets have to be receptive to what they want to do. when they're comfortable that the markets are receptive, i believe they'll proceed. i think we're going into some choppy weather in the last couple days. i think they're looking for the right time to maximize the value for america, and they'll do that when they feel they're able to accomplish that for the country. >> we know the treasury lockup ends on november 10th. any active discussions regarding a secondary here on this? >> we don't get involved in that. you know, we leave that entirely up to the u.s. treasury. they're the shareholder. to the extent we can be the facilitator, we would. our capital management program today is focused on our coverage ratios and some of our debt and ability to cover that payment. so we have a very specific capital management program for the next, i'd say, 12 to 18 months. we don't necessarily see where we would be involv
>> i don't know what the government expects. i can only tell you that i think they have a desire to sell. i think that the markets have to be receptive to what they want to do. when they're comfortable that the markets are receptive, i believe they'll proceed. i think we're going into some choppy weather in the last couple days. i think they're looking for the right time to maximize the value for america, and they'll do that when they feel they're able to accomplish that for the country....